The first tenant of the commercial space that was built on the ground floor of the new 350-space Trades District parking garage will be a software company called Exclaimer.
Bloomington’s redevelopment commission (RDC) approved a draft lease for the 4,059-square-foot space at its regular Monday evening meeting.
The commercial space to be leased fronts South Rogers Street. The Trades District is the area north of the city hall and county government building on Morton Street, bounded on the north by 11th Street.
On Monday, Bloomington director of economic and sustainable development Alex Crowley described the deal to RDC members as essentially a four-year lease with the option to exit the agreement at the end of year three—as long as Exclaimer covers half the rent that they would have paid through year four.
The $19 per square foot that Exclaimer will be paying at the beginning of the agreement amounts to $6,426 a month, or about $77,000 per year. Part of the deal includes a “tenant improvement allowance” of up to $55 per square foot, which totals $223,245. Continue reading “Trades District garage lines up software company as commercial space tenant: Exclaimer”